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Links: 2010-05-14 Beijing’s stop and go and Greece’s solvency
Subscribe to Our News Feed If you would like to receive our links in real-time please follow me at @edwardnh. Must Reads Griechenland-Zweifel des Bankchefs: Ackermann vergrätzt Merkel - SPIEGEL ONLINE (see my post Deutsche Bank chief…
BBH CurrencyView: Risk Off Trade Back On, Euro In No Win Situation
Highlights The risk off trade is back on and the US dollar and yen are bid while the euro is in a no win situation at this point. There are renewed concerns over the situation in Dubai (ahead of Dubai holdings’ next repayments) and China…
Liquidity and Solvency
When bankruptcy comes, it does so normally as a result of a liquidity crisis. This is true for countries as much as it is for companies. It's not as if someone in charge walks in one day and says "you are insolvent so you must default…
Deutsche Bank chief casts doubts on Greece’s solvency
Just when you thought the EU had things under control with their $1 trillion shock and awe rescue package, the first signs of doubt appear. The doubting Thomas is none other than Swiss-born Deutsche Bank head Josef Ackermann who…
The 2004 Fed Transcripts: A Methodical, Diabolical Destruction of America’s…
Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). The Federal Reserve releases transcripts of the Federal Open Market…
The Eurozone Bailout – Are We Still Standing?
As we are about move into the fourth day of the week where EU policy makers together with the IMF and the ECB launched an unprecedented series of aid tools to combat the mounting risk of a collapse in Greece and elsewhere in the European…
Economics 101 on government budget deficits
Econ 101
Imagine you and I are the only two people in an economy. For the sake of argument, say we use sea shells as a currency and we trade with no one else but each other. So when we do trade, we exchange goods and services with each…
Links: 2010-05-13 Best oil spill article and Housing-fuelled divorce in China
Subscribe to Our News Feed If you would like to receive our links in real-time please follow me at @edwardnh. Must reads: Gas surge shut well a couple of weeks before Gulf oil spill | NOLA.com Divorce, a way round China's…
BBH CurrencyView: Calmer Market Has Returned, US Dollar Is Mixed
Highlights A calmer market environment has returned and the US dollar is mixed. Talks of renewed problem in Dubai may help dollar bulls in the US session though. Attention has (for now anyway) moved away from the euro debt crisis onto the…
Stat of the Day: California now in top ten for highest government default probabilities in the world
With the liquidity crisis surrounding the rollover of Greek debt subsiding, the probability of default for that country has plummeted from nearly even odds to just over one in three. Last Week's Numbers: 06 May 2010 Meanwhile, other…